How to Choose the Best Place to Sell Diamonds

It is often said that diamonds are a girl’s best friends. Coveted by many, diamonds are also the object of a sale decision for various reasons: their owners might need some extra cash; the gems may have a difficult to use shape or they may bring back unhappy memories. No matter the reasons for which you want to make this sale, you have to know that this is not something you can improvise. Therefore, take all the criteria into consideration, carefully weigh your options and choose the sales method and the place that best suits your needs.rnLocal jewelers and pawn shopsrnLocal jewelry shops, which often act also as pawn shops are the handiest solution and the one that first comes to people’s mind when they consider selling their gems. However, they are not the most profitable because they offer a low percentage (usually less than half) of the diamond’s real value. The good thing about these traders is that they provide you with a cooling off period of six or twelve months, during which you can regain possession of your diamond.rnAuctionsrnTaking part in a specialized jewelry or precious stones auction is a good idea if you want to sell diamonds for a higher amount of money than you would normally obtain with a local jeweler. However, there is no guarantee for this as the price you get depends on the people present at that specific moment in the auction room. Moreover, there is no door left open in case you change your mind. Once the deal is sealed, the diamond is no longer yours and there is no way of taking it back.rnOnline retailers and intermediariesrnNowadays, the technological advances and the democratization of online trading have opened new paths for those who consider selling diamonds and other types of gems (rubies, sapphires), gold or platinum jewelry and antique objects. There are several websites that provide efficient solutions, which include price evaluation and delivery services. When looking at these options, take into consideration the company’s reliability as well as the time frame they guarantee until you can cash in. Once you have made your choice and you opted for an online retailer, the first thing you need to do is to contact their customer relationships’ department and let them know your details. They will get back to you in a timely manner and they will have their experts assess the value of the diamond you are willing to sell. The criteria used during this evaluation are usually the 4Cs: carat (the diamond’s weight), cut (the diamond’s shape and its brilliance level), clarity (the diamond’s clarity) and color. Next, your gem will appear on the trading website and when an offer is made, you will be re-contacted. If you agree on the sale, you can send the gem by FedEx and get your money. These are the main options one has when willing to sell precious stones. If you are in such a situation, weigh the advantages and disadvantages each method presents and make the decision that best suits you. You may also want to take into consideration criteria such as the time frame in which you need the money, the amount of effort you want to invest into this endeavor and the possibility to change your mind after a short while.